SCHEDULES

SCHEDULE 2Capital gains tax reform

Abolition of “halving relief”

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1

Schedule 4 (deferred charges on pre-31 March 1982 gains) is amended as follows.

2

Before paragraph 1 insert—

Application of Schedule

A1

This Schedule applies only for the purposes of corporation tax.

3

In paragraph 2(5), omit—

a

“, 162, 165”, and

b

“of this Act and section 79 of the Finance Act 1980”.

4

In paragraph 4(2), omit “168 (as modified by section 67(6)),”.

5

In paragraph 9(1), omit—

a

in paragraph (b), “in the case of a disposal made by, or a gain treated as accruing to, a person chargeable to corporation tax,”,

b

paragraph (c), and

c

“or (as the case may be) on or before such later date”.